Midway Airlines Turbulence

May 24, 1985|By Deanne Brandon

A group of dissident stockholders is making a bid to gain control of Midway Airlines and throw out the company's directors and management. Their plans: Revealed in a filing this week with the Securities and Exchange Commission. The dissidents, most of them former managers or directors of the company, own 5.8 percent of the Chicago-based carrier's common stock. Not known: What effect their bid would have on Midway's planned takeover of bankrupt Air Florida. A $53 million deal was to have been completed next month. Since October 1984, Midway has operated Air Florida's routes in Florida and in the Virgin Islands under the name Midway Express.